Southern Asia: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Southern Asia

In 2021, the South Asian cocoa powder with sugar market decreased by -0.5% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank slightly in the following year.

Production of Cocoa Powder (Containing Added Sugar) in Southern Asia

In value terms, cocoa powder with sugar production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of 24% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in Southern Asia

In 2021, the amount of cocoa powder (containing added sugar) exported in Southern Asia skyrocketed to X tons, surging by 25% against 2020. Over the period under review, exports, however, faced a deep contraction. The pace of growth was the most pronounced in 2018 when exports increased by 56% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, cocoa powder with sugar exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 68% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

India prevails in exports structure, reaching X tons, which was near 94% of total exports in 2021. Sri Lanka (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the cocoa powder (containing added sugar) exports, with a CAGR of +3.8% from 2012 to 2021. Sri Lanka (-40.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +79 percentage points.

In value terms, India ($X) remains the largest cocoa powder with sugar supplier in Southern Asia, comprising 95% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 2.6% share of total exports.

In India, cocoa powder with sugar exports expanded at an average annual rate of +6.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 9.3% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cocoa powder with sugar export price increased by +55.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 49% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.9%).

Imports of Cocoa Powder (Containing Added Sugar)

Imports in Southern Asia

In 2021, cocoa powder with sugar imports in Southern Asia rose rapidly to X tons, growing by 9% on the year before. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 66%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, cocoa powder with sugar imports skyrocketed to $X in 2021. In general, imports showed a tangible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 56%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, India (X tons) represented the key importer of cocoa powder (containing added sugar), generating 62% of total imports. It was distantly followed by Maldives (X tons) and Nepal (X tons), together making up a 28% share of total imports. The following importers - Pakistan (X tons), Bangladesh (X tons) and Sri Lanka (X tons) - each amounted to a 9.4% share of total imports.

India was also the fastest-growing in terms of the cocoa powder (containing added sugar) imports, with a CAGR of +56.6% from 2012 to 2021. At the same time, Pakistan (+46.7%), Bangladesh (+11.4%) and Sri Lanka (+6.2%) displayed positive paces of growth. By contrast, Maldives (-1.9%) and Nepal (-13.9%) illustrated a downward trend over the same period. India (+60 p.p.) and Pakistan (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Maldives and Nepal saw its share reduced by -16.7% and -45.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cocoa powder (containing added sugar) in Southern Asia, comprising 65% of total imports. The second position in the ranking was held by Maldives ($X), with a 23% share of total imports. It was followed by Nepal, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value in India stood at +50.4%. In the other countries, the average annual rates were as follows: Maldives (-0.7% per year) and Nepal (-20.1% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, growing by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2013 an increase of 22% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Maldives ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+9.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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